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It is registered

Ministry of Justice

Russian Federation

On May 12, 2015 No. 37236

PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of December 22, 2014 No. 447-P

About curators of insurance companies

Based on the Law of the Russian Federation of November 27, 1992 No. 4015-1 "About the organization of insurance case in the Russian Federation" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1993, No. 2, Art. 56; Russian Federation Code, 1998, No. 1, Art. 4; 1999, No. 47, Art. 5622; 2002, No. 12, Art. 1093; No. 18, Art. 1721; 2003, No. 50, Art. 4855, Art. 4858; 2004, No. 30, Art. 3085; 2005, No. 10, Art. 760; No. 30, Art. 3101, Art. 3115; 2007, No. 22, Art. 2563; No. 46, Art. 5552; No. 49, Art. 6048; 2009, No. 44, Art. 5172; 2010, No. 17, Art. 1988; No. 31, Art. 4195; No. 49, Art. 6409; 2011, No. 30, Art. 4584; No. 49, Art. 7040; 2012, No. 53, Art. 7592; 2013, No. 26, Art. 3207; No. 30, Art. 4067; No. 52, Art. 6975; 2014, No. 23, Art. 2934, No. 30, Art. 4224; No. 45, the Art. 6154) and the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219; No. 45, of the Art. 6154) this Provision establishes procedure for appointment, obligation, the right and responsibility of employees of the territorial offices of the Bank of Russia and Department of the insurance market of the Bank of Russia exercising control and supervision of observance of the requirements of the insurance legislation of the Russian Federation appointed by curators of insurance companies (further - the curator).

Chapter 1. General provisions

1.1. The purpose of appointment of curators is ensuring implementation by the Bank of Russia of function of control and supervision of activities of insurance companies, including on the basis of the best understanding and assessment of such aspects of activities of insurance company as financial stability and solvency (condition of the capital, insurance reserves, insurance rates, reinsurance, quality of assets), corporate management (including the organization of internal control), transparency of structure of property, structure of insurance group in which the insurance company is parent organization or the participant.

1.2. The main objective of the curator is timely, complete and exact assessment of financial position of the insurance company assigned to it, including identification of shortcomings of its activities at perhaps earlier stages of their emergence, for the purpose of protection of the rights and legitimate interests of the insurers, insured persons and beneficiaries recognized by those according to the insurance legislation of the Russian Federation, the prevention and suppression of violations of requirements of the insurance legislation of the Russian Federation, and also the prevention of emergence of the situations menacing to stability of functioning of the insurance market of the Russian Federation.

1.3. The employee of Department of the insurance market of the Bank of Russia (territorial office of the Bank of Russia) whose professional and personal qualities provide effective solution of the task determined by Item 1.2 of this Provision is appointed the curator.

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